Redstone on Pirates and Strikers

Sumner Redstone, the boss at CBS and Viacom, says digital distribution of entertainment won’t produce riches until piracy of content is curbed. He says while the opportunity for a new business exists online, the challenges are “far more imminent,” the Hollywood Reporter says. Taking the analysis a step further, he says that if piracy reduces the incentive to create blockbuster movies, studios won’t produce and writers won’t get hired, and the strike over how to cut the digital pie will be a fight over crumbs.